Deere & Company (NYSE:DE) Price Target Raised to $496.00 at Truist Financial

Deere & Company (NYSE:DE) had its target price boosted by Truist Financial from $443.00 to $496.00 in a research note issued to investors on Wednesday morning, Benzinga reports. Truist Financial currently has a buy rating on the industrial products company’s stock.

DE has been the topic of a number of other reports. BMO Capital Markets began coverage on shares of Deere & Company in a report on Friday, August 9th. They issued a market perform rating and a $400.00 target price on the stock. Hsbc Global Res cut shares of Deere & Company from a strong-buy rating to a hold rating in a report on Monday, August 19th. Oppenheimer lowered their price target on Deere & Company from $465.00 to $448.00 and set an outperform rating on the stock in a report on Monday, July 22nd. Citigroup reduced their price objective on Deere & Company from $395.00 to $370.00 and set a neutral rating for the company in a research note on Tuesday, August 13th. Finally, HSBC downgraded Deere & Company from a buy rating to a hold rating in a research note on Monday, August 19th. Twelve investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to data from MarketBeat.com, Deere & Company has an average rating of Hold and an average target price of $420.69.

Deere & Company Stock Performance

NYSE DE opened at $411.08 on Wednesday. The company has a fifty day moving average of $387.01 and a two-hundred day moving average of $385.44. The company has a market capitalization of $113.28 billion, a PE ratio of 12.37, a P/E/G ratio of 1.35 and a beta of 0.92. Deere & Company has a 1 year low of $340.20 and a 1 year high of $420.47. The company has a debt-to-equity ratio of 1.85, a current ratio of 2.07 and a quick ratio of 1.87.

Deere & Company (NYSE:DE) last announced its earnings results on Thursday, August 15th. The industrial products company reported $6.29 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $5.63 by $0.66. The firm had revenue of $11.39 billion during the quarter, compared to analysts’ expectations of $10.94 billion. Deere & Company had a return on equity of 36.71% and a net margin of 14.69%. The business’s revenue was down 20.3% on a year-over-year basis. During the same period in the prior year, the firm earned $10.20 EPS. As a group, analysts expect that Deere & Company will post 25.03 earnings per share for the current year.

Deere & Company Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 8th. Investors of record on Monday, September 30th will be issued a dividend of $1.47 per share. This represents a $5.88 dividend on an annualized basis and a yield of 1.43%. The ex-dividend date of this dividend is Monday, September 30th. Deere & Company’s dividend payout ratio is currently 17.70%.

Hedge Funds Weigh In On Deere & Company

Hedge funds and other institutional investors have recently bought and sold shares of the company. Creative Planning raised its holdings in shares of Deere & Company by 2.1% in the third quarter. Creative Planning now owns 75,462 shares of the industrial products company’s stock worth $31,493,000 after acquiring an additional 1,555 shares during the last quarter. Harrington Investments INC lifted its holdings in shares of Deere & Company by 0.7% during the 3rd quarter. Harrington Investments INC now owns 4,743 shares of the industrial products company’s stock worth $1,979,000 after acquiring an additional 35 shares during the period. Wedge Capital Management L L P NC acquired a new stake in shares of Deere & Company in the third quarter worth approximately $4,728,000. ORG Wealth Partners LLC purchased a new stake in Deere & Company in the third quarter valued at approximately $55,000. Finally, Thurston Springer Miller Herd & Titak Inc. increased its position in Deere & Company by 75.6% during the third quarter. Thurston Springer Miller Herd & Titak Inc. now owns 971 shares of the industrial products company’s stock worth $405,000 after purchasing an additional 418 shares during the last quarter. 68.58% of the stock is owned by institutional investors and hedge funds.

About Deere & Company

Deere & Company engages in the manufacture and distribution of various equipment worldwide. The company operates through four segments: Production and Precision Agriculture, Small Agriculture and Turf, Construction and Forestry, and Financial Services. The Production and Precision Agriculture segment provides large and medium tractors, combines, cotton pickers and strippers, sugarcane harvesters and loaders, harvesting front-end equipment, pull-behind scrapers, and tillage and seeding equipment, as well as application equipment, including sprayers and nutrient management, and soil preparation machinery for grain growers.